Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $500,000 contingent income buffered issuer callable yield notes on indexes
Chicago, Feb. 2 – BofA Finance LLC priced $500,000 of contingent income buffered issuer callable yield notes due May 17, 2024 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.85%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting Aug. 16, 2023 on any monthly call date.
If the worst performing index gains or ends above its 80% threshold value the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the 20% buffer.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered issuer callable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $500,000
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| Maturity: | May 17, 2024
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| Coupon: | 8.85% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 80% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 20% buffer
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| Call: | At par starting Aug. 16, 2023 on any monthly call date
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| Initial levels: | 13,389.78 for Nasdaq, 1,744.707 for Russell, 4,130.62 for S&P
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| Coupon barriers: | 9,372.85 for Nasdaq, 1,221.295 for Russell, 2,891.43 for S&P, 70% of initial levels
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| Downside thresholds: | 10,711.82 for Nasdaq, 1,395.766 for Russell, 3,304.50 for S&P, 80% of initial level
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| Pricing date: | May 11, 2023
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| Settlement date: | May 16, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.6%
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| Cusip: | 09709VWB8
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